Now, it is possible that Ken Fisher has David Copperfield on retainer. With a billion dollar bankroll I guess you could, theoretically, make the 800 lb. gorilla in the room disappear. I’m guessing it will take a lot of smoke and mirrors for Ken Fisher to be right about the coming decade, and maybe Copperfield could pull off some trick to provide that appearance. Yes, there will be opportunities where money will be made, but where Fisher seems to have his head up his rectum is that he is apparently unaware that we just came out of 15 years of an extreme global bubble market, with Information Technology creating a stimulus for growth we hadn’t seen since the Industrial Revolution. Fisher has obviously become acclimated to the ideology that this bubble phase of extreme growth was the norm, and it is not. This isn’t the same scenario leading into the 90’s. At this point, there is no new technology to push us into another “Industrial Revolution” growth phase. The “new normal” that Fisher is trying to say is “idiotic” is really just a “return to normalcy” after a decade and a half of Fisher getting to ride the gravy train on what will probably be the biggest technological boom of our lifetimes. Most people under 35 probably don’t even comprehend the difference between a normal bull market and what we experienced in the past decade and a half.

Pessimism is not always irrational, Mr Fisher. Many are probably overly pessimistic that the world is going to fall apart or that the United States will come to an abrupt economic end, but being pessimistic that there is no new driver of growth in the pipeline to boost the economy may just be rational, as opposed to the delusions of a man who needs to produce a return on investment and is therefore psychologically inclined to “talk his book” in order to keep his client’s funds under his management.

At this point, I’m guessing a chimpanzee has a better “long term” memory than Mr. Fisher and I think he’s been sniffing the wrong end of the rat this time!